Vruddhi Engineering Works IPO is a book built issue of Rs 4.76 crores. The issue is entirely a fresh issue of 7.21 lakh shares.
Vruddhi Engineering Works IPO bidding started from March 26, 2024 and ended on March 28, 2024. The allotment for the Vruddhi Engineering Works IPO is expected to be finalized on Monday, April 1, 2024. Vruddhi Engineering Works IPO will list on BSE SME with tentative listing date fixed as Wednesday, April 3, 2024.
Vruddhi Engineering Works IPO price band is set at ₹66 to ₹70 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹140,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹280,000.
Fedex Securities Pvt Ltd is the book running lead manager of the Vruddhi Engineering Works IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
Vruddhi Engineering Works IPO Details
| IPO Date | March 26, 2024 to March 28, 2024 |
|---|---|
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹66 to ₹70 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 721,212 shares (aggregating up to ₹4.76 Cr) |
| Fresh Issue | 721,212 shares (aggregating up to ₹4.76 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 1,843,584 |
| Share holding post issue | 2,564,796 |
Vruddhi Engineering Works IPO Timeline (Tentative Schedule)
| IPO Open Date | Tuesday, March 26, 2024 |
| IPO Close Date | Thursday, March 28, 2024 |
| Basis of Allotment | Monday, April 1, 2024 |
| Initiation of Refunds | Tuesday, April 2, 2024 |
| Credit of Shares to Demat | Tuesday, April 2, 2024 |
| Listing Date | Wednesday, April 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 28, 2024 |
Vruddhi Engineering Works IPO Reservation
| Investor Category | Shares Offered |
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | - |
| QIB Shares Offered | 340,000 (47.22%) |
| NII (HNI) Shares Offered | 140,000 (19.44%) |
| Retail Shares Offered | 240,000 (33.33%) |
| Total Shares Offered | 720,000 (100%) |
Vruddhi Engineering Works IPO Lot Size
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 2000 | ₹140,000 |
| Retail (Max) | 1 | 2000 | ₹140,000 |
| HNI (Min) | 2 | 4,000 | ₹280,000 |
Vruddhi Engineering Works IPO Promoter Holding
| Share Holding Pre Issue | 96.34% |
| Share Holding Post Issue |
Vruddhi Engineering Works Limited Financial Information (Restated)
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 808.58 | 782.33 | 100.14 | 3.02 |
| Revenue | 935.36 | 1,309.62 | 220.65 | 0.44 |
| Profit After Tax | 41.01 | 75.33 | 9.44 | -0.88 |
| Net Worth | 253.13 | 212.12 | 9.56 | 0.12 |
| Reserves and Surplus | 68.77 | 118.55 | 8.56 | -0.88 |
| Total Borrowing | 301.91 | 323.37 | 47.49 | 2.22 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 16.20% |
| ROCE | 15.53% |
| Debt/Equity | 1.19 |
| RoNW | 16.20% |
| P/BV | 0.1 |
| PAT Margin (%) | 4.38 |
KPI as of September 30, 2023.
About Vruddhi Engineering Works Limited
Established in 2020, Vruddhi Steel Limited provides mechanical splicing solutions to the real estate, construction and infrastructure industries through the development, design and supply of reinforcement couplers.
The company’s offering list includes:
- supply of rebar couplers as per customer requirements;
- on-site threading of the couplers; and
- trading in threading machines and spare parts.
Vruddhi Steel’s customers include construction contractors, real estate developers and infrastructure companies. As of March 31, 2023, the company has served around 84 customers in the mechanical splicing vertical and supplied steel products to over 2 customers in the trading sector.
As of June 30, 2023, the company employed over 20 people at its warehouse and head office.
Vruddhi Engineering Works Limited Contact Details
Office No 603, 6th Floor,
Cello – The Plaza, V P Road,
Vile Parle West, Mumbai – 400056
Phone: +91- 022 26128915
Email: cs@vruddhicouplers.com
Website: http://www.vruddhicouplers.com/ Read More:- Blue Pebble Limited IPO (Blue Pebble IPO) Detail
